Swifty, Inc. reports all its sales on credit, and pays operating costs in the month incurred. Amounts for 2022 are:

March April May June July Budgeted sales $300700 $290200 $319900 $279100 $210100 Budgeted purchases $144400 $120500 $127100 $131400 $90300

Customer amounts on account are collected 75% in the month of sale and 25% in the following month. Cost of goods sold is 55% of sales. Swifty purchases and pays for merchandise 45% in the month of acquisition and 55% in the following month. Operating expenses are: Salaries, $49300; Depreciation, $12600; Rent, $15700; and Utilities, $13500. Accounts payable is used only for inventory acquisitions.

How much is Swiftys budgeted balance for Accounts Payable at May 31, 2022?

$124130

$66275

$69905

$57195